Will 60k be an important support for BTC in the next bear market?
2 min read
BTC was able to climb to the border after the announcement of ETF approval $ 60,000. It is really very close to the historical maximum. However, the question remains, how high does BTC climb?
BTC and fractal analysis
In the world of cryptocurrencies, there are still many analyzes that are relatively accurate when looking back. A similar case is current fractal analysis which predicts an interesting scenario. According to this prediction, the $ 60,000 mark will be the new local support for the bear cycle. This border is therefore extremely important not only for bears but also for bulls.
A popular account on Twitter also commented on the situation around BTC TechDev according to which it is fractal analysis very accurate in determining the maximum and minimum of BTC.
I know no one cares about macro during a pump.
But the last two #BTC bear markets bottomed in the 1.486-1.618 log fib pocket of the previous cycle.
Suggests the next bear bottom is 47-60K.
If that’s where we land after an 80-85% fall…
The math gets fun. pic.twitter.com/wGnL6XDQAk
– TechDev (@ TechDev_52) October 15, 2021
ATH and a big spill?
All popular analyzes so far show that BTC will reach the limit even a year later $ 100,000. However, the question remains, how big a drop will follow the huge growth? Correction is a common part of the market and then needs to be prepared. Fractal analysis talks about the fact that the price of 60,000 USD can be an important support in the next bear cycle.
TechDev’s Twitter account relied on accuracy Fibonacci sequences, according to which the BTC correction bottom is extremely accurate. Historical data does not deceive. According to this analysis, the bottom was perfectly determined already in 2014 and in December 2018.
